BIDENFLATION: You Think The Economy’s Bad NOW? A Former Fed Chair Just Said the S-Word

Written by Wes Walker on May 17, 2022

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After grossly misrepresenting Trump’s economic negatives during Covid, Biden ran on a particular promise. He was going to ‘shut down the virus, not the economy’. A bold promise. But could he keep it?

In hindsight, maybe giving control of the Oval Office, bolstered by support from the House and Senate to someone who was in the majority during the Carter years wasn’t such a great plan.

An unrestrained Democrat agenda isn’t the only thing the Carter and Biden administrations have in common. They both have the dubious distinction of presiding over an economy in freefall.

Do you suppose policy decisions could have *anything* to do with this? The obvious answer to that question is ‘yes’. Unless you’re a Biden backer. In that case, it’s going to be somebody else’s fault. It’s a matter of deciding who today’s scapegoat should be.

While Dems quibble about whether to blame Putin or Rich Corporations for America’s current financial situation, people who know a thing or two about money have been sounding the alarm.

Former Federal Reserve Chairman Ben Bernanke said the current Fed leaders were too slow to react to surging U.S. inflation and as a result face a period of stagflation, or a combination of stagnant growth and high inflation.

“The forward guidance, I think overall, on the margin, slowed the response of the Fed to the inflation problem,” Bernanke said in an interview broadcast on CNBC on Monday. “I think, in retrospect, yes, it was a mistake and I think they agree it was a mistake.” — YahooFinance

Meanwhile, the former CEO of Goldman Sachs went on one of the Sunday shows to explain what he thinks we’re facing.

Former Goldman Sachs CEO Lloyd Blankfein said on Sunday he believes the economy is at risk of possibly going into a recession, as the U.S. Federal Reserve continues to raise interest rates to tackle rising inflation.

Speaking on “Face the Nation” on CBS, Blankfein said a recession is “a very, very high risk factor.”

“There’s a path. It’s a narrow path,” said Blankfein, who retired from Goldman Sachs several years ago and now holds the title of senior chairman. —CNBC

Biden, who called for Trump to resign over 200k deaths in Covid, and took over when that death clock was somewhere around 400k, has since seen the count cross the one million mark. But he’s still in office for some reason.

Biden promised to shut down the virus, not the economy.
He’s an abject failure by either half of that metric.

Check out Doug’s latest book, The Art of Joe: The Political Brilliance of President Biden. If you have left-leaning family members, workmates, or classmates, to buy several copies and place them in common areas. Make sure you have your video camera ready for when they pick it up and thumb through it because they will be triggered which will make for a great viral video to share across social media. Also, buy a couple for the GOP NeverTrumpers that you know. Finally, both the book’s cover and the epilogue, Notable Quotable Joe are worth the price of admission. We’ve included before and after Biden on Afghanistan. Jen Psaki will no likey this book, but you will. BTW, the book is 95% bereft of any content. Just like Biden’s head.